1 week Ago
When traditional banks turned their backs on the Trump Organization, Eric Trump didn't just give up – he made a sharp turn into the crypto field. The biggest banks, such as Capital One, closed over 300 Trump-linked accounts in 2021, effectively cutting the family off from much of the U.S.
financial system. Eric described his company as "probably the most canceled" business worldwide. Instead of scaling back, the Trumps decided to move to the decentralized sphere of crypto.
Now, with Donald Trump back in the White House and a more crypto-friendly environment in Washington, Eric sees assets as both a business opportunity and a mission. From Bank Shutdowns to Blockchain The turning point came shortly after the January 6th Capitol riot when financial institutions began distancing themselves from the Trump brand. Capital One allegedly shut down hundreds of Trump Organization accounts without notice.
In response, the company sued the bank in Florida, accusing it of "unsubstantiated, woke beliefs." All that financial pressure pushed the family to look elsewhere. "Crypto was faster, cheaper, more transparent," Eric told reporters in early 2025.
"It gave us the independence that traditional banking no longer allowed." This shift led Eric and Donald Trump Jr. to found World Liberty Financial, a blockchain-focused project.
Their first bigger product is USD1, a stablecoin tied to the U.S. dollar and backed by cash reserves and treasuries.
Eric believes USD1 will compete with popular players such as Tether and USDC. He's targeting institutional investors looking for transparency and a U.S.
-based product with strong political connections. The stablecoin market currently holds over $235 billion in value and continues to grow. But when it comes to finding promising new projects, getting in early is very important.
Some projects grow into billion-dollar ones, while others disappear completely. That's why many investors now seek top crypto presales to spot potential winners before they take off. Presales allow crypto investors to invest in new coins before they even hit exchange platforms.
Bitcoin Mining Projects Eric didn't stop with stablecoins – he partnered with Hut 8 CEO Asher Genoot to create American Bitcoin, a new mining company. They’re trying to build a large-scale U.S.
mining operation with global reach. The project divides ownership between Hut 8 (80%) and Trump-affiliated American Data Centers (20%). Eric serves as Chief Strategy Officer and is already planning to take the company public.
He strongly believes the U.S. needs to compete in the global mining industry: "Every sophisticated country is using its excess power to mine bitcoin," he said at the White House Crypto Summit in March 2025.
"If we want to lead the digital economy, we better lead here too." American Bitcoin is much more than a patriotic brand – it's a huge strategic move to place Trump’s name in the future of U.S.
energy and tech infrastructure. Influence Without Official Power Though Eric claims no official role in his father's administration, his businesses clearly align with the government's goals. Since Donald Trump returned to office , pro-crypto sentiment has exploded.
The president has already ordered the creation of a national Bitcoin reserve and controversially pardoned several high-profile crypto figures, including Silk Road founder Ross Ulbricht. Eric keeps his distance from policy decisions. "I don't want anything to do with government," he said.
"But I do want to help the U.S. win the crypto race.
" Lawmakers are still skeptical – in April 2025, Senator Elizabeth Warren and Rep. Maxine Waters asked the SEC to preserve documents related to World Liberty Financial. Critics worry that the lines between personal profit and political influence are becoming dangerously blurred.
But regardless of these concerns, the Trump family's crypto project has grown from an experiment to a full-fledged business strategy. Join our WhatsApp Channel to get the latest news, exclusives and videos on WhatsApp _____________ Disclaimer: Analytics Insight does not provide financial advice or guidance. Also note that the cryptocurrencies mentioned/listed on the website could potentially be scams, i.
e. designed to induce you to invest financial resources that may be lost forever and not be recoverable once investments are made. You are responsible for conducting your own research (DYOR) before making any investments.
Read more here..
